Credit card giant Visa (NYSE: V) has reported strong revenue and earnings growth for the third quarter of 2024, reflecting a sharp increase in payment volume and cross-border volume.
Adjusted earnings, excluding special items, climbed 12% annually to $2.42 per share in the June quarter from $2.16 per share in the prior-year period. Unadjusted net income rose to $4.87 billion or $2.40 per share in the third quarter from $4.16 billion or $2.0 per share a year earlier.
Earnings benefitted from a 10% increase in revenues to $8.9 billion. Payments volume and cross-border volume increased by 5% and 14% respectively during the three months.
“During the quarter, we expanded our partnerships with many clients around the world and announced several new innovations that will help drive the future of commerce,” said Visa’s chief executive officer Ryan McInerney.
